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Anthony is considering the purchase of used car. The price, including the title and taxes, is $9,530. Anthony is able to make a $2,530 down payment. The balance, $7,000, will be borrowed from the Credit Union at an interest rate of 9.25% compounded daily. The loan should be paid in 48 equal monthly payments. Compute the monthly payment. What is the total amount of interest Anthony has to pay over the life of the loan? Besides, provide the principal and interest payments over the first four months.
Please show your work and calculations for this.
What will happen to nominal GDP and the price level next year if the Fed keeps the money supply constant. Elucidate what money supply should the Fed set in year 2009 if it wants to keep the price level stable.
If you know that the marginal utility per dollar spent on product Alpha is less than the marginal utility per dollar spent on product Beta, consumers who spend all their income on these two products can:
Different products have different elasticities. Heart medication, for example, is inelastic, and corn is elastic.
the shape depends partly on how much time consumers have to adjust a change in prices. Over a short period the demand curve is fairly steep because a few adjustments can be made.
Assume that you are going to start a small business of your own. Further, imagine that you are able to adequately differentiate your product, or service so that you can establish your business as a monopolistically competitive firm. Describe the busi..
Describe how changes in the macro environment affect individual firms and industries through the micro economic factors of demand, production, cost and profitability.
The income tax is unfair to those who work hard to earn their incomes is an example of positive economic analysis.
Frank was willing to contribute $40 this year to his local public television station. However, after learning that the television station had already met its goal of raising $400,000, he decided not to contribute because he knew he could watch public..
Consumers often identify brand names with quality. Do you think branded products usually are of higher quality than generic products and therefore justify their higher prices
For given input prices, more expensive bundles of inputs are associated with:
Some economists have suggested that the best way to control medical costs is to remove the profit incentive for health care providers, particularly hospitals.
Sketch a demand curve that is unit elastic for a price change between $9 and $11. Assume that the quantity demanded is 110 when price is $9. You’ll have to determine the quantity demanded when price is $11.
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